Americans doubt super committee will succeed

@CNNMoney November 16, 2011: 8:16 AM ET

WASHINGTON (CNN) -- Americans are skeptical that a congressional super committee will reach a deficit reduction agreement by next week's deadline, according to a new national survey.

A CNN/ORC International Poll released Wednesday, one week before the panel's Nov. 23 deadline, also indicates that a plurality of the public would blame Republicans more than Democrats if no agreement is reached.

Seventy-eight percent of people questioned in the survey say they think it is somewhat or very unlikely the committee will develop a plan to significantly reduce the federal budget deficit by Nov. 23, with just over one in five saying it is likely a majority of the panel's six Democrats and six Republicans will reach an agreement.

The panel is charged with the tough task of finding at least $1.2 trillion in savings over the next decade. Congressional leaders from both parties are trying to bridge the vast ideological divide over how much to raise taxes or cut spending.

Who would be responsible if the super committee fails to reach agreement over the next week?

The poll indicates that 42% say they would blame the Republicans in Congress, with 32% blaming the Democrats, and another one in five volunteering that they would hold both parties equally responsible.

"This is not the first time a plurality would blame the GOP for congressional inaction," CNN Polling Director Keating Holland said. "In March, 46% said they would hold the Republicans responsible if the government shut down. And in July, 51% said they would blame the GOP more than President Obama if the debt ceiling were not raised."

Debt committee: Deal or no deal?

If a majority of the 12-member panel does reach an agreement, Congress has one month, until Dec. 23, to vote on the deal. A failure to pass any agreement would result in $1.2 trillion in automatic across-the-board spending cuts starting in 2013, evenly divided between defense and non-defense spending.

Defense Secretary Leon Panetta warned members of Congress this week that such cuts could cripple the American military establishment.

The CNN poll was conducted by ORC International between Nov. 11-13, with 1,036 adult Americans questioned by telephone. The survey's overall sampling error is plus or minus three percentage points. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
View rates in your area
Find personalized rates:
Economic Calendar
Latest ReportNext Update
Home pricesAug 28
Consumer confidenceAug 28
GDPAug 29
Manufacturing (ISM)Sept 4
JobsSept 7
Inflation (CPI)Sept 14
Retail sales Sept 14
  • -->

    Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.